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Edward Morrow Atkinson III, the Executive Vice President and Chief Technical Operations Officer at Vertex Pharmaceuticals Inc. (NASDAQ:VRTX), a prominent player in the biotechnology industry with a market capitalization of $123.1 billion, recently sold a significant amount of the company’s stock. According to InvestingPro data, while this insider sale occurred, management has been actively buying back shares. According to a Form 4 filing with the Securities and Exchange Commission, Atkinson sold 1,767 shares of Vertex common stock on February 25, 2025, at a price of $480.95 per share, totaling approximately $849,838. The transaction price was near the middle of Vertex’s 52-week range of $377.85 to $519.88, with the stock showing a solid year-to-date return of 19.28%.
This transaction was conducted as part of a pre-established trading plan under Rule 10b5-1, which Atkinson entered into on February 22, 2024. Following this sale, Atkinson holds 24,484 shares of Vertex stock.
Additionally, the filing noted a separate disposition transaction on February 24, 2025, involving 1,656 shares at a price of $483.28 per share, as part of a different transaction code. After these transactions, Atkinson’s total shares owned stand at 24,484.
In other recent news, Vertex Pharmaceuticals Incorporated has been the focus of several analyst updates and company developments. TD Cowen reaffirmed its Buy rating for Vertex, setting a price target of $525 following the company’s strong fourth-quarter performance, which included cystic fibrosis revenues of $2.9 billion, surpassing expectations. The firm projects Vertex’s revenue to grow significantly, supported by its maturing pipeline and upcoming product launches. Similarly, Truist Securities raised its price target for Vertex to $520, maintaining a Buy rating due to positive feedback on the launches of Alyftrek and Journavx.
BMO Capital Markets also maintained an Outperform rating with a $545 price target, highlighting Vertex’s growth potential and portfolio diversification. The company’s recent financial results showed a top-line beat, although operating expenses were slightly higher than anticipated. RBC Capital Markets adjusted its price target for Vertex to $408, maintaining a Sector Perform rating, citing enthusiasm for Journavx but noting potential short-term challenges.
DA Davidson reiterated a Buy rating with a $62 price target, expressing confidence in Vertex’s resilience amid industry challenges. These developments reflect a generally positive outlook for Vertex, driven by strong product performance and strategic positioning in the pharmaceutical industry.
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